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<Research> Jefferies Lowers TP of CHINA MENGNIU DAIRY (02319.HK) to HKD22.6, Downgrades Earnings Forecast
Recommend 4 Positive 2 Negative 3 |
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Jefferies published a research report stating that CHINA MENGNIU DAIRY (02319.HK) reported a net profit of RMB1.545 billion last year, aligning with the previous profit alert, with an operating profit margin of 8%, which is at the midpoint of the guidance. The management guided for mid-single-digit revenue growth this year and aims to drive operating profit margin expansion through cost control and operational efficiency improvements. The company expects the liquid milk business to record high single-digit growth so far in the first quarter, while the ice cream, milk powder, and cheese businesses are expected to achieve double-digit growth. The firm anticipates that the strong growth momentum from January to February will continue into March. The earnings forecasts for 2026 and 2027 have been lowered by 22% to 24% based on the revised operating profit margin expansion forecast, and a forecast for 2028 has been introduced. The target price has been reduced from HKD24.3 to HKD22.6, maintaining a "Buy" rating. (ss/u) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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